New-age leaders: Entrepreneurship is about continuous learning

“There is no manual that guides leaders in tough times. It’s all about crisis management. The trick is to know your trade really well and have an open mindset to adopt and apply measures that you may not in a normal setting. It is about demonstrating agility,” said Ahmad Abu Eideh, CEO, Invest Bank, during the panel discussion, ‘Tough Times, Strong Leaders’. 

The session had industry leaders from different sectors, including Ahmed AlKhoshaibi, CEO, Arada, Dr. Aisha Bin Bishr, Global Digital Transformation Expert, and Adel Ali, CEO, Air Arabia. 

Giving a perspective from the aviation industry, Ali noted that preparing for the worst helps. “The pandemic was a major learning experience for us and arguably for everyone globally. We as a brand weathered the unexpected loss of months-long business because of our ability to think decisively and act fast. We strategised and deployed our resources to different markets, which helped. It was all a product of having the right team.” 

Dr. Aisha Bin Bishr agreed on the importance of having a good team and also stressed on utilising data to build systems for decision-making. “Data is the most valued commodity at the moment, and utilising the data well can unleash so much potential for any business. Leaders should be adaptive and learn to evolve with time. With continuous learning and up-skilling, business leaders can use data for decision-making.”

Ahmed AlKhoshaibi, CEO, Arada, stressed on the importance of having a vision. “Business leaders should not eye short-term strategies only. There should be a long-term vision for the company and people, which can sometimes be detached from short-term revenue goals.” He also stressed on having the right people in the team. “Do not hire quickly. Take your time when recruiting. If you have a good team, you can survive and thrive in any crisis.”

Entrepreneurs must love what they do
The message on hiring the right people echoed in other sessions on leadership, too. In another panel discussion on ‘Pioneers Unplugged: Real Talk with Entrepreneurial Legends’, Michael Lahyani, Founder & CEO, PropertyFinder, Rabea Ataya, CEO, bayt.com, and Ambareen Musa, CEO, Yabi Technologies, all agreed on the power of having the right team to build successful start-ups.

Talking about struggles in the early phases of entrepreneurship, Lahyani advised entrepreneurs to persevere. “Perseverance is the key. There will be challenges, almost every day. If you love what you do, you will find a way out.” 

Ataya of bayt.com concurred. “Successful entrepreneurs love what they do. There are very few lines of work where you contribute to society. If you have one, it is easy to feel motivated every day to give back and improve the lives of people.” He also suggested entrepreneurs maintain financial prudence and maintain cash reserves, which eventually will allow them the freedom to expand and work on their own terms.

Organised by the Sharjah Entrepreneurship Center (Sheraa), SEF is a platform to empower individuals across demographics through mentorship, networking, and a supportive community, fostering a culture of entrepreneurship and innovation.